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Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: A €25 billion cancellation-----

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: I want to stay with this point. What could we do with a €25 billion cancellation?

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: There was €17 billion of Pensions Reserve Fund money plundered.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: The Minister of State-----

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: This will be wrapped up very quickly. There is €17 billion to reinstate the National Pensions Reserve Fund which is the pension fund the Minister of State and his children will need in a few years time. It was plundered and depleted to €4 billion in March 2012, which was wrong.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: The connection is that €17 billion from €25 billion leaves €8 billion; €4 billion of that €8 billion cancellation is used to mend the water pipes and water treatment works. Irish Water, which was set up by the Minister and Minister of State-----

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: -----says it will need €8 billion for repairs over the next number of years, so there is €4 billion left. Social housing is the connection; it would get €2 billion of the other €4 billion.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: Social housing will include apartments.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: I am not.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: Deputy Wallace will mention the 90% purchase by hedge funds with strong US dollars-----

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: These hedge funds are buying the apartments.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: The connections have to be made otherwise the right sort of apartments will not be built. The Minister of State will be doing meaningless stuff disconnected from the reality of where we stand. If one lines up all the materials for a programme or strategy and gets the measurements right, whether of money, materials, designs, drawing, strategies, timing or calendars, one will succeed. I have...

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: I am showing that €25 billion of cancellation allows us to reset the clock and do it for the right reasons. The Government has been afraid of its own shadow and has squeezed people who should not have been squeezed and allowed inequality to arise though a bad and unbalanced taxation system. Multinational corporates are now actually paying extra tax yet the Government is scratching...

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: The Government could have actually billed them with it four years ago and did not.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: The Minister of State has missed the point because he does not want to hear. I am not personalising the debate but it is a bad habit that comes from having too many numbers. Everybody stops thinking, inquiring, being curious and taking new ideas from the House.

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: Those vulture funds will make €5 billion-----

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: -----that could stay in the country. The amendments that have been made and suggested are dead right. There should not be noise between apartments; it is a living requirement. Deputy Wallace was shaking his head and saying one does not necessarily need concrete block walls between apartment units. Is that right?

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: The living space of neighbouring apartments should not be intruded on by the living noises of those next door. Good window aspect and light is needed. Ceiling heights should be nine ft. tall because people are growing taller. Bicycle parks and playgrounds are also needed. People need access to public spaces, parks, football clubs and so on. This can be built in as a requirement prior to...

Planning and Development (Amendment) Bill 2015 [Seanad]: Committee and Remaining Stages (16 Dec 2015)

Peter Mathews: I commend the previous speakers on their excellent observations. I had experience in this area in the 1980s. I worked with ICC Bank and I was responsible for providing development finance to large house building groups such as Sisks, O'Malleys, Sorahans and so on and to those building apartment blocks in our cities. Generally, the bank took a hands-on approach to what was happening. One...

Leaders' Questions (16 Dec 2015)

Peter Mathews: What about the game-changing promissory bonds worth €25 billion?

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